No tsunami effect on Indo-Japan trade

BHARUCH: The havoc wrought by tsunami in Japan has created panic among local industrialists in Bharuch district, especially in Ankleshwar and Panoli industrial estates where at least 20 units are engaged in export business only with the Far East nation.
India and Japan had recently signed a Free Trade Agreement eliminating tariffs on 94 per cent of goods.The two nations have within ten years become the biggest free-trade partners. Meanwhile, Japan businessmen have communicated to their business partners and clients in India that their country was limping back to normal and they were ready for resumption of regular trade, industrial associations said.
The overall bilateral trade between India and Japan stood at over US$10 billion in 2009-10. "Ankleshwar, Panoli and a few Jhagadiya-based units export hair colour, dyes, pharmaceutical items and ink to Japan," said Chandu Kothiya, president, Ankleshwar Industrial Association.
"Tsunami and earth quake have affected northern Japan. The maximum number of industries is located in other parts of Japan. We have also received mails from our clients saying that they will restart their units in a week's time," said MS Jolly, owner of an export firm at Panoli.